About Dolphin Offshore Enterprises India LTD

DOLPHIN OFFSHORE ENTERPRISES INDIA LTD. was incorporated on May 17, 1979 as a Pvt. Ltd company. The first chairman of the company was Mr Shavax A Lal, ex-Secretary to the first Indian Governor General, Shri C.Rajagopalachari, and a prominent Mumbai businessman. The Managing Director at that time was Rear Admiral Kirpal Singh, a war veteran, with a distinguished record in the Indian Navy. The two shared a vision of building national capacity for the nascent offshore oil industry by providing diving, underwater engineering and allied services for the new projects in Bombay High. To this end, the Company formed an association with Taylor Diving & Salvage Company Inc, a subsidiary of the US-based Halliburton Group and commenced diving operations the same year. Through this association, DOEIL became the first Indian company to acquire the technology for all aspects of offshore diving and, underwater engineering. To date, it remains the leading Indian company in this field. DOEIL has since, expanded its activities to include :

Diving and Underwater Services

Project Management

Marine Operations and Management Services

Turnkey EPC Projects

Fabrication and Installation Services

Rig Repairs & Ship Repairs

Design Engineering

In 1994, the Company acquired its first vessel, the GANGA Dolphin. The Company has since expanded its fleet to 1 Accommodation and Work Barge, 4 OSV’s / Workboats and one AHTS.

Decades of experience delivering, on water, above water and onshore projects, DOEIL has qualified to independently handle two major turnkey projects for ONGCL in 2008. That year the company’s order book stood at US$112 million.

Since its inception, DOEIL has been meticulous in maintaining the highest international standards for safety of personnel and offshore environment. The company has been certified for ISO 9001-2008 by American Bureau of Shipping. In addition, the company has also been certified for OHSAS: 18001-2008 and ISO: 14001-2004 by Integrated Quality Certification Pvt. Ltd.

The Company has been guided by an eminent Board of Directors since inception.

The Company went in for its Initial Public Offer in 1994 and is now listed on the Bombay and National Stock Exchanges. In order to acquire important assets needed for its expanding business, it also went in for Foreign Currency Convertible Bonds worth US$ 15 million in December 2005. The Company’s paid up capital and reserves as on March 31, 2008 was Rs 73.72 crores and turnover for the year then ended was Rs 227.70 crores. Based upon its qualification as a Main Contractor for EPC contracts by ONGC this turnover is expected to increase over the next few years, barring unforeseen circumstances.

To protect shareholder value and maintain confidence in a challenging economic climate, the Company regularly reviews its Corporate Management functions and has strengthened its Audit Committee and internal auditing procedures. Our statutory auditors are Haribhakti & Co, our internal auditors are Aneja Associates and our principal bankers, since inception, are State Bank of India.

To keep pace with the new challenges of deepwater recovery of hydrocarbons and the impacts of Climate Change, DOEIL has begun work on establishing International Public-Private Sector cooperation for development of underwater technology and environment protection, search and rescue operations and setting up of training facilities. Recognizing the immediate global shortage of underwater professionals, the Company is launching its own in house training program for divers and underwater technicians and to ensure the Country can build up its pool of professionals with international certification